Anterix Inc (NASDAQ:ATEX) Q1 2021 Earnings Conference Call - Final Transcript
Sep 16, 2020 • 04:30 pm ET
extensively by media of all types. It would be hard to mention a corner of our intended audience that has not become aware of what the FCC has done and what it means. Of course awareness precedes the desired outcome of signing long-term leases, but I'm impressed -- I have been impressed by what our team has been able to do in a few short months to get our message out.
A new advisory council is up and running with the strong guidance of former FCC Commissioner and former California Public Utility Commissioner, Rachelle Chong; and former Governor of Delaware, Jack Markell and an impressive group of our employees and consultants. Just to give a flavor of what this council is achieving. We partnered with Smart Power, non-profit renewable energy marketer and with the American University's Center for Environmental Policy to pursue a federal grant from among a $1.5 billion pool of stimulus funding in the Department of Commerce. Our objective on this initiative is to work directly with utilities in Virginia to help them win stimulus funding, to pay for private LTE networks for grid management and to leverage those facilities to assist in supporting rural broadband. As many of you know, funding of utility infrastructure has generally all been at state level. This Federal opportunity in our view is the harbinger of what may come as the Federal government begins to take a much larger role in infrastructure funding.
Second council initiative of which I am very proud is a resolution we're supporting at the Southern States Energy Board, that's the SSEB. This is an interstate compact composed of governors and state legislators from 16 southern states plus two US territories and a Presidential appointee. The important function of the SSEB is to formulate policy for the region relating to energy. The resolution it pass would encourage the region's utilities to deploy private, cyber secure wireless broadband networks to support grid modernization and where feasible for utilities to support consumer broadband to rural homes by making their infrastructure available. This policy guidance from as important a group as the SSEB will help Anterix penetrate to the leadership of utilities throughout the Southeast as we seek to make our spectrum available and hopefully to make that availability regional.
Let me finish my remarks today by conveying my enthusiasm for where we are. Throughout our target markets is palpable, our team has been strengthened by new talents who are broadening our reach. Everything I read convinces me that regardless of the outcome of November's election, a major Federal effort will be undertaken to supply huge financial resources for grid security and modernization. Anterix is working to position its unique spectrum as a key beneficiary of such funding. Giant companies that make up our target market are aware of the challenges and opportunities they face. Our job is to convince them individually and as an industry that our unique spectrum position is crucial as the foundation for broadband connectivity. Just as